Daily Morning Report – 24/07/2026

Date 24.07.2026

NIFTY OUTLOOK: 23869.60   FII -2999.23 cr    DII 2947.14 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as continuous selling pressure drift down the nifty upto 23807.2

Further bearish spinning top type candle appeared on daily chart of nifty suggest indecision about nifty direction but it observed near support zone (23780-810) from where nifty bounces in recent past and also indicts sellers are pausing before pushing lower these all favour the bulls. Hence if nifty successfully taken out 23925 then it may rally upto 23978 to 24033. If more demand will accentuate then it may have chances to test 24087.

Furthermore if sellers are continue and nifty failed to defend this support zone then on decisively breakdown of 23815 nifty may slide further upto 23761 to 23707. If more supply will accentuate then it may have chances to test 23651.

Bank Nifty OUTLOOK:                                                                                             

SPOT:  56592.00  Pcr: 0.69 Max Ce OI on 60000 & Max Pe OI on 56000

On July 23, 2026, a Bank Nifty index was closed at 56592.00 (-534.80) (-0.94%). The total movement in the index was 555.40 during the trading session.  The index made a high of 56930.15 and a low of 56374.75.

Technical view:

Important support and resistance level of Bank nifty are 55980 and 59113 respectively.

Intraday Support and resistance level of Bank nifty are 56440 and 56745 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 44.2. Belw 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis:

Bank nifty is trading above 2 out of 8 SMA’s  (50, 100, Day).

Bank nifty is trading below 6out of 8 SMA’s. (5, 10, 20, 30, 150, 200  Day)

No active Candlestick Pattern was identified in bank nifty on daily chart.

Important Pivot Point Levels for Today          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549